Aabbcode AaBbocbdte AaBbCcDc AaBbCcDdB Aa Improvements, choose Check for Updates. The Happy Company reported the following balance sheet and income statement data for 2018 and 2017: Assets 2017 Income Statement Cush Sales Revenue Accounts Receivable 60 Cost of Goods Sold Inventory 50 Gross Profit Prepaid Insurance 9 Operating Expenses Held to Maturity Securities 13 Salaries Expense Land Depreciation Expense Building and Equipment 81 7 5 Bond Interest Expense Less: Accumulated Depr. (26 (30) Insurance Expense $296 5 243 Total Operating Expenses Liabilities Operating Income Accounts Payable Other Income (Expenses) Salaries Payable Investment Revenue Income Tax Payable Gain on Sale of Equipment ILT Notes Payable Loss on Sale of Land Bands Payable Total other income (expenses) Less: Discount on bonds Income before income taxes Shareholder's Equity Income tax expense Common Stock 150 120 Net Income Treasury Stock ( 60 Retained Earnings 33 15 $296 $242 $30 Note: You need to know how the decrease in the discount on bonds impacts interest expense and wiimately cask. It is worth the time to read this section in chapter 18 before you start this cash flow problem. The first part of chapter 18 taring on page 775) gives a good overview of honde. If you are not familiar with bonds, it is a good idea to start at the beginning of the chapter you feel good about recording a bond i c e and understand the concept of morniring the premium or discount, then page 778 is a good place for you to start Additional Information 1. $12 of bonds were retired at maturity. 2. Happy issued a 56 mock dividend and subsequently sold more shares of common stock. 3. A new building was acquired by Issuing $30 noie. Land that originally cost SIS was sold during the year. Prepare a full statement of cash flow for 2018 to answer the questions. You will need to prepare the operating section using the direct method and the indirect method. When you awwer the questions in Blackboard, do not include dollar signs. Even if the amount is an outflow, enter it as a positive. Example Question: What is the amount of cash paid to purchase Held to Maturity Securities in 2018? Correct Answer: 13 MacBook Air